Comparing Free vs. Paid Volatility Scanners for Stock Traders
If you’re a stock trader who focuses on volatility, using the right scanner can make or break your trading routine. While some traders prefer free tools to keep costs low, others opt for premium scanners with real-time alerts and advanced filters. But how do you know which option is best for your needs?
In this post, we compare the most popular free and paid volatility scanners, looking at features, pros and cons, and who each is best suited for.
Why Use a Volatility Scanner?
Volatility scanners help traders:
- Identify stocks making large price moves
- Track unusual volume and price ranges
- Scan for gappers, news-driven surges, or high ATR stocks
- Get alerted to trade opportunities in real-time
Whether you’re day trading or swing trading, finding volatile stocks quickly can be the difference between missed and captured profits.
Top Free Volatility Scanners
1. Finviz Screener
- Pros: Fast, web-based, no login needed
- Filters: % change, average volume, relative volume
- Limitations: Delayed quotes, no alerts, limited technical filters
- Best for: End-of-day scans, swing traders on a budget
2. Yahoo Finance Screener
- Pros: Simple, clean interface, good for beginners
- Filters: Price change %, volume, market cap
- Limitations: Not real-time, limited customization
- Best for: Casual traders
3. TradingView (Free Plan)
- Pros: Access to basic scanner + charts
- Filters: Price change, volume, volatility fields (limited)
- Limitations: No real-time data unless upgraded
- Best for: Visual learners who need basic charting
Top Paid Volatility Scanners
1. Benzinga Pro
- Pros: Real-time news + volatility alerts, audio squawk, customizable filters
- Volatility Features: Premarket movers, live price spikes, momentum plays
- Cost: Starts at $99/month
- Best for: Active day traders and news-based scalpers
2. Market Chameleon
- Pros: Detailed IV data, pre-earnings volatility, options screening
- Volatility Features: IV rank/percentile, options IV scans, gap movers
- Cost: Plans from $69/month
- Best for: Options traders, volatility-focused analysis
3. Trade Ideas
- Pros: AI-powered scanner, auto alerts, backtesting
- Volatility Features: Real-time alerts on fast-moving stocks, breakout scans
- Cost: Starts at $84/month
- Best for: Professional traders who want high-performance automation
Feature Comparison Table
| Feature | Free Scanners | Paid Scanners |
|---|---|---|
| Real-Time Data | No | Yes |
| Custom Volatility Filters | Limited | Advanced (ATR, IV, gap %, etc.) |
| Alerts & Notifications | No | Yes (audio/email/SMS) |
| Options Volatility (IV) Support | No | Yes |
| News Integration | Basic or none | Full (live feed, squawk) |
| Backtesting or AI Signals | No | Yes (Trade Ideas) |
| Price | Free | $69–$149/month |
Which One Should You Choose?
Choose a Free Scanner If:
- You’re a beginner learning the basics
- You trade based on daily or weekly setups
- You don’t need real-time alerts or IV filters
Choose a Paid Scanner If:
- You need real-time momentum or volume alerts
- You trade intraday with tight entries
- You rely on options volatility or earnings plays
FAQs
Is it worth paying for a volatility scanner?
If you’re trading actively, yes. Paid scanners provide real-time data and alerts that free tools can’t match.
Can I use both free and paid scanners together?
Absolutely. Many traders use Finviz for filtering and TradingView or Benzinga Pro for trade execution.
What’s the best scanner for swing traders?
Finviz Elite or TradingView Pro offer good value with more flexibility than free plans.
Are volatility scanners good for options trading?
Yes—especially those that include IV rank and options flow (like Market Chameleon).
Do paid scanners come with a free trial?
Most do. Try a demo before committing to see if it fits your workflow.
